IMF Raises Spectre Of Civil Wars As Global Inequalities Worsen -- The Telegraph
The International Monetary Fund (IMF) has warned that "dangerous" imbalances have emerged that threaten to derail global recovery and stoke tensions that may ultimately set off civil wars in deeply unequal countries.
Dominique Strauss-Kahn, the IMF's chief, said the economic rebound across the world is built on unstable foundations, with many rich nations still strapped in job slumps while the rising powers of China, India and Brazil already facing the threat of overheating. "It is not the recovery we wanted. It is a recovery beset by tensions and strain, which could even sow the seeds of the next crisis," he said.
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My Comment: We had a taste of the future by witnessing what has been happening in Tunisia and Egypt during the past three weeks. No jobs. Inflation. Declining incomes. Corruption everywhere. Autocratic governments who structure economies to just service them and their cronies. Yup .... the ingredients are in place for a lot of suffering in the world.
Totally agree with you. We are getting a foretaste because of Tunisia and Egypt. I expect we'll start to see some other failures as well.
ReplyDeleteI continue to keep an eye on ExactPrice so I can keep track of the spot price of gold. It gives a good barometer of the world temp I think when it comes to unrest and uncertainty. Add to that the continue buying of central banks of the yellow metal and I get a distinct impression that the elites are covering their "assets".